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bioteq environmental tech in (BQE) Details

BioteQ Environmental Technologies Inc. operates as a water treatment company worldwide. It offers water treatment solutions for groundwater and surface water drainage, acid mine drainage, metallurgical process streams, lime plant effluent, tailings water, and sulphidization-acidification-recycle-thickening process for gold operations in mining industries; cooling tower water, FGD blowdown, and ash pond water in power industries; and SAGD produced water and shale gas frac water in oil and gas industries. The company develops and commercializes water treatment technologies to recover metals, such as aluminum, copper, cobalt, iron, molybdenum, nickel, rhenium, vanadium, and zinc; remove and recover metal contaminants, including antimony, arsenic, barium, cadmium, lead, manganese, mercury, selenium, and strontium; and remove sulphate and total dissolved solids, and silica from water impacted by resource, energy, and industrial activities. Its technologies produce treated water for re-use or discharge to the environment; reduce or eliminate residual waste; and recover saleable by-products from wastewater. The company’s metal recovery and removal technologies include BioSulphide and ChemSulphide technologies, which utilize biological and chemical sources of sulphide to precipitate dissolved metals from wastewater; and Met-IX technology that treats wastewater. It also offers sulphate removal technologies, such as Sulf-IX and Sulf-IXC, which remove sulphate and hardness from wastewater; and selenium removal technology, including Selen-IX that removes selenium from water streams. It primarily serves resource companies, utility operators, and regulators. The company has strategic alliance with Newalta Corporation and EcoMetales Ltd. BioteQ Environmental Technologies Inc. is headquartered in Vancouver, Canada.

bioteq environmental tech in (BQE) Key Developments

Bioteq Environmental Technologies Inc. Reports Consolidated Financial Results for the Third Quarter and Nine Months Ended Sep. 30, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014 and First Quarter of 2015

Nov 12 14

BioteQ Environmental Technologies Inc. reported consolidated financial results for the third quarter and nine months ended Sep. 30, 2014. For the quarter, Revenues were $1,722,000 against $1,234,000 for the same period of last year. Income before other income was $760,000 against loss of $2,069,000 for the same period of last year. Net income was $1,166,000 or $0.01 per diluted share against loss of $2,106,000 or $0.03 per diluted share for the same period of last year. Adjusted EBITDA was $1,400,000 against loss of $1,800,000 for the same period of last year.
For the nine months, Revenues were $2,573,000 against $2,954,000 for the same period of last year. Loss before other income was $1,217 against $4,593,000 for the same period of last year. Net loss was $972,000 or $0.01 per diluted share against $3,964,000 or $0.06 per diluted share for the same period of last year. Adjusted LBITDA was $384,000 against $3,020,000 for the same period of last year.
The company based on its results for the quarter, expects revenues and cash flow to decline in the fourth quarter of 2014 and into first quarter of 2015 as seasonal operation at Raglan concludes, copper recovery plants in China complete annual maintenance and water availability in the region declines, and the current selenium pilot operation concludes. BioteQ continues to project Proportional Revenues to be in the range of $6.8 million to $7.3 million for the year. In terms of its Adjusted EBITDA forecast, BioteQ expects a significant improvement in the loss for the year.

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